Price has closed below mirror level at the 1.14860-1.15000 region to finish off last week, & this could be a zone to watch price act as as new resistance for a move back to the downside as price has reversed from this zone many times in the past.
Price has made a clear break & retest of the descending trendline, where bulls pushed price above the consolidation range to finish off the week. A pullback to test this range as new support will give price more momentum to start a new uptrend.
Strong bearish momentum candle to finish off the week, as price broke through key level at the 1.60000 region. Will anticipate a pullback to retest this level as new resistance, & a mid week reversal to take place & push price lower from this level. More downside expected going into the upcoming weeks.
Price rejecting multiple times off strong support at the 137.900 region, where a further push to the upside could take place. A break of the descending trend line will confirm price will be ready to rise more. Keep in mind GBP retail sales tomorrow morning as well will bring volatility
Price has now found resistance at the 0.71500 region, where a pullback to set a higher low can be made at the 0.70700 region where a new higher high can then be anticipated as price is in the early stages of a trend reversal.
Downfall is soon ready to begin as price is rejecting off a key monthly level at the 1.89600 region. Previous weekly support being testing as new resistance, price is creating a potential double top along with rejection candles to this zone showing that buyers are struggling to push price higher..
Watching this pair for more upside as price made its 3rd rejection to the long term trendline, where a powerful bounce can occur. Price also finished off the week closing above key support structure / 50 Fibonacci retirement (Blue Zone).